Bank of America’s retiring asset management chief, Richard DeMartini, is set to receive $4 million in incentives before his departure April 1, Reuters reports.

BoA’s annual report indicates that DeMartini, 51, is eligible for a $2 million incentive award and another $2 million after Jan. 1 of next year, for unnamed services.

DeMartini is the only individual still employed by BoA named in the New York Attorney General’s complaint against Canary Capital Partners. The complaint cites e-mails that DeMartini received detailing a commitment of $20 million in BoA’s Nations Funds, in return for market-timing allowances.

DeMartini became head of Bank of America’s asset management division, which includes its Nations Funds mutual fund unit, in February 2001.

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